™An option model's vega estimates sensitivity to a specified change in implied volatility, holding other inputs constant; confirm whether the quote uses a one-percentage-point unit.
Options
Vega
An estimate of how an option’s value may change when implied volatility changes.
Plain-English context
Put the definition to work.
Confirm whether sensitivity is quoted per one percentage point of implied volatility and hold the other model inputs fixed.
Further reading and verification. Examples are hypothetical, not current quotes or recommendations. Product terms, tax treatment and market rules can change. OCC / Options Industry Council — options basics